Iron Ore Price OutlookIron ore prices remained broadly stable in recent weeks, driven by a strengthening outlook for supply that was largely offset by still-strong demand dynamics in China, the world’s top steelmaking country. The benchmark iron ore 62% Fe import price including freight and insurance at the Chinese port of Tianjin traded at USD 63.5 per metric ton on 6 July. The price was 3.1% lower than on the same day last month and was down 14.7% on a year-to-date basis. Moreover, the price was unchanged compared to the corresponding day last year. Changes in iron ore prices are closely associated with developments in China, the world’s largest maker, consumer and exporter of steel. An anticipated increase in global supply and growing trade war fears have weighed on iron ore prices in recent months, with the latest developments pointing to escalating trade tensions as China ramped up its anti-Washington rhetoric. U.S. tariffs on billions worth of Chinese goods came into effect on 6 July, while, cooling manufacturing data signaled a slowdown in Chinese steel demand, which is set to translate into weaker demand for iron ore. In turn, iron ore prices started showing renewed weakness at the beginning of July.
Iron Ore Price History Data (USD per metric ton, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Iron Ore Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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